eBay sees boost in 1Q revenue

SAN JOSE, Calif. eBay posted first quarter revenue of $2.19 billion, up $424 million from the same period last year. Revenue growth was driven primarily by Marketplaces net transaction revenues, the ongoing expansion at PayPal, Skype and the company’s global classifieds business. The company recorded net income on a GAAP basis of $460 million or 34 cents per diluted share, and non-GAAP net income of $562 million or 42 cents per diluted share.

“This was a very strong financial quarter for the company,” said eBay president and ceo John Donahoe. “The results reflect the strength provided by our diverse portfolio of businesses. Our stability and growth continues to give us the confidence to make innovative changes to our products to keep customers engaged for years to come.”

For the full year 2008,eBay now expects net revenues in the range of $8.7 billion to $9 billion with GAAP earnings per diluted share in the range of $1.35 to $1.40 and non-GAAP earnings per diluted share in the range of $1.70 to $1.75.

For the second quarter 2008, eBay now expects net revenues in the range of $2.1 billion to $2.15 billion with GAAP earnings per diluted share in the range of 30 cents to 32 cents and non-GAAP earnings per diluted share in the range of 39 cents to 41 cents.